What is a Side Hustle, and Why is it Important for Freelancers?
Whether you’re working as a full-time freelancer or moonlighting for additional income, it’s always important to build additional revenue streams into your life. One way you can earn additional income is to have a side hustle, and according to a survey by Zapier, a third of Americans have already got one.
When I first started freelancing, I didn’t have a steady stream of clients, and I was building my portfolio out more as I dipped into other niches. I felt it was important for me to have additional income streams and side hustles that utilized my other skills.
But what exactly is a side hustle? Side hustles are a way to earn extra money, and that could look something like running an online store, working as a social media manager, or even buying and selling things on eBay.
Side hustles are beneficial to freelancers for multiple reasons. Firstly, side hustles are often very flexible. Secondly, side hustles help to supplement additional income, which can be extremely helpful in those months when you’ve earned less, or you’re waiting for clients to pay you. Side hustles are also important for freelance writers because they can also help the freelancer to work on passion projects alongside propelling personal development and creativity.
Examples of Side Hustles and Freelancers Doing Them Well
It’s not impossible to generate additional income as a freelancer, and some freelancers have even implemented side hustles well. As for myself, in addition to content writing, I have a poetry brand, which makes money through book sales and a merchandise store. I have also created workshops, written stories, and created other content outside of copywriting to supplement my income.
Courses and Workshops
If you’re skilled in graphic design, business, marketing, and writing, then developing a course or workshop to help others can help you to earn more income. For example, Nicole Bump, a Fractional Content Director, has created courses to help marketers expand their skills in content strategy.
If you’re a content creator that writes, makes art, or creates music, you may find Patreon to be an incredibly helpful avenue to earn a few more bucks. Patreon is a platform where content creators can charge monthly subscriptions for exclusive access to content. For example, as a content writer, you may want to publish some of those creative short stories for subscribers to read or allow subscribers to see your artwork.
Want to see a freelancer that has done well on Patreon? Check out Jon Bonini.
Creating your own podcast allows you to share your voice on topics inside and outside of your industry. Whether you want to talk about freelancing, entrepreneurship, or creativity, podcasting provides you with a platform to gain a larger audience, more clients, and also sponsorship.
One freelancer that has been doing this well is Jessica Walrack; you can find her podcast here.
Publish a Book
Copywriters and content writers may find it easy to utilize their skills and write a book, making it a perfect side hustle. For example, if you have industry-specific knowledge about marketing, then writing a content marketing book and sharing insights can be a great way of earning additional income. For example, freelancer Jane Friedman has written for Writer’s Digest and The Huffington Post, alongside writing her own book titled “Publishing 101”.
Add a Side Hustle to Your Content Creation Process
You can never have too many revenue streams, especially when you’re a freelancer, and your earnings could fluctuate every month. Implementing a side hustle with your current skills can be easy, and even if you have to learn a couple of things, the benefits outweigh the disadvantages.
Side hustles can provide you with extra income and help you work on passion projects. Furthermore, side hustles can open new doorways to creativity and stepping foot into other industries.
To learn more about freelancing and how you can earn more as a freelancer, check out the nDash blog.
FAQs About the Importance of Freelancers Having a Side Hustle
What are the advantages of a side hustle?
With a side hustle, you can earn more money per month, gain new skills, and even work on your passion projects while earning.
Why is it important to have a side business?
Having a side business provides you with a safety blanket in case your freelancing business earns lower than usual. Having a little extra income can help to create new opportunities for you.
How much does the average side hustle make?
The average side hustle makes between $100-$500 a month (Source).
About the author:
Anup Sohanta is a freelance writer and poet who specializes in developing content and content strategies across multiple channels to drive engagement and positive growth. Check out his profile to learn more about what he can do for you today!